Imagine the thrill of finding a penny—just one cent—that’s secretly worth $1.5 million. It might sound like an urban legend, but certain rare Lincoln Wheat Pennies have sold for incredible sums at auction. Even more intriguing? Some of these highly prized coins may still be circulating today, hiding in pockets, jars, or old piggy banks.
In this article, we’ll uncover the facts behind this legendary coin, what makes a Lincoln Wheat Penny so valuable, and how to identify one that could be worth a life-changing amount of money.
What Is a Lincoln Wheat Penny?
The Lincoln Wheat Penny was minted from 1909 to 1958, with wheat stalks flanking the words “ONE CENT” on the reverse side. Designed by Victor D. Brenner, this was the first U.S. coin to feature a real historical figure: President Abraham Lincoln.
While most Wheat Pennies are worth only a few cents to a few dollars, certain rare versions—especially those with minting errors, low production numbers, or unique materials—can command prices in the hundreds of thousands, even millions.
The Penny That Sold for $1.5 Million
The coin in question is the 1943-D Lincoln Wheat Penny struck in bronze—a true rarity. Here’s why it’s so valuable:
- Minted in Denver (noted by the “D” mintmark below the date).
- Struck in bronze instead of the expected zinc-coated steel.
- Only one confirmed example exists with this combination.
In 2010, this one-of-a-kind penny reportedly sold for $1.5 million to a private collector. It’s considered the holy grail of Lincoln pennies.
Why Are Some 1943 Pennies So Valuable?
Wartime Minting Error
During World War II, copper was needed for military ammunition, so in 1943, the U.S. Mint produced pennies using zinc-coated steel instead of bronze. However, a few bronze planchets (coin blanks) were left in the machines—resulting in an extremely rare error coin.
Rarity & Condition
- Only a handful of 1943 bronze Wheat Pennies are known to exist.
- One version, the 1943-D Bronze Penny, is the rarest of all.
- Coins graded MS (Mint State) fetch the highest prices.
Other Rare Lincoln Wheat Pennies to Watch For
1. 1943 Bronze Wheat Penny (No Mintmark or “S”)
- Value: $100,000 to $500,000+
- Found from the Philadelphia and San Francisco mints.
- Also struck in bronze by error.
2. 1909-S VDB Wheat Penny
- Value: $800 to $100,000+
- First year of issue; features designer’s initials “V.D.B.” on the reverse.
- Only 484,000 were minted in San Francisco.
3. 1922 No D Wheat Penny
- Value: $1,000 to $15,000+
- Minted in Denver, but due to a die issue, the “D” mintmark was left off.
4. 1955 Doubled Die Obverse (DDO)
- Value: $1,000 to $20,000+
- Very noticeable doubling of the words “LIBERTY” and “IN GOD WE TRUST.”
How to Spot a Million-Dollar Penny
Check the Date
Look for 1943 pennies made of copper (they should not stick to a magnet).
Inspect the Mintmark
A “D” mintmark below the date means it came from the Denver Mint.
Look at the Color
- Steel pennies are gray and magnetic.
- Bronze/copper pennies are reddish-brown and non-magnetic.
Weigh It
- Steel penny: 2.7 grams
- Bronze penny: 3.1 grams
- A simple digital scale can help confirm the metal type.
What to Do If You Think You Found One
- Don’t clean it. Cleaning a rare coin can destroy its value.
- Weigh and test magnetism.
- Get it authenticated. Submit it to a professional service like PCGS or NGC.
- Have it appraised. Coin dealers and auction houses can evaluate potential worth.
Watch Out for Fakes
Because of the coin’s legendary status, there are many counterfeits. Some scammers copper-coat steel pennies or alter dates. Professional authentication is essential before any sale or valuation.
Final Thoughts: Could You Be Holding a $1.5 Million Penny?
The odds are slim—but not impossible. One Lincoln Wheat Penny, struck in error during wartime, shocked the coin world by reaching $1.5 million. And it all started with a simple mistake.
If you’re a casual collector, history buff, or just curious about that penny in your junk drawer, take a closer look. You never know—you might be holding a tiny treasure that could change your life.